US to Own Nuclear Reactors Stemming From Japan’s $550 Billion Pledge

The US government plans to buy and own as many as 10 new, large nuclear reactors that could be paid for using Japan’s $550 billion funding pledge, part of a push to meet surging demand for electricity.

The new details of the unusual arrangement were outlined Wednesday by Carl Coe, the Energy Department’s chief of staff, about the non-binding commitment made by Japan in October to fund $550 billion in US projects, including as much as $80 billion for the construction of new reactors made by Westinghouse Electric Co.